Management knows of no other business that will be presented to the meeting for a vote. If
other matters properly come before the meeting, the persons named as proxies will vote on them in accordance with their best judgment.

The cost of this solicitation of proxies will be paid by us. In addition to the use of the mail, some of the officers and regular employees of the Company may solicit
proxies by telephone and will request brokerage houses, banks and other custodians, nominees and fiduciaries to forward soliciting material to the beneficial owners of common stock held of record by such persons. We will reimburse such persons for
expenses incurred in forwarding such soliciting material. It is contemplated that additional solicitation of proxies will be made in the same manner under the engagement and direction of D.F. King & Co., Inc., 48 Wall Street, New York,
NY 10005, at an anticipated cost of $24,000, plus reimbursement of out-of-pocket expenses.

2011 ANNUAL MEETING

Stockholders wishing to suggest candidates to the Nominating and Corporate Governance Committee for consideration as directors must submit a written notice to the Corporate Secretary of the Company. Our By-Laws set
forth the procedures a stockholder must follow to nominate directors or to bring other business before stockholder meetings. For a stockholder to nominate a candidate for director at the 2011 Annual Meeting, presently anticipated to be held on
May 11, 2011, notice of the nomination must be received by the Company between November 2 and December 2, 2010. The notice must describe various matters regarding the nominee, including name, address, occupation and shares held. The
Nominating and Corporate Governance Committee will consider any nominee properly presented by a stockholder and will make a recommendation to the Board. After full consideration by the Board, the stockholder presenting the nomination will be
notified of the Boards conclusion. For a stockholder to bring other matters before the 2011 Annual Meeting and to include a matter in the Companys proxy statement and proxy for that meeting, notice must be received by the Company within
the time limits described above. The notice must include a description of the proposed business, the reasons therefor and other specified matters. In each case, the notice must be timely given to the Corporate Secretary of the Company, whose address
is 120 Park Avenue, New York, New York 10017. Any stockholder desiring a copy of the Companys By-Laws (which are posted on our Web site at www.pmi.com/governance) will be furnished one without charge upon written request to the Corporate
Secretary.